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Henry Steinberg Of EQT Real Estate Acquires Industrial Portfolio From Hiew Yoon Khong For $241.2M
SOLD
National
See Similar DealsIndustrial2,400,000 SF
Sold
Summary
Asset Type:Industrial
Price Per Square Foot:$100
Total Square Footage:2,400,000 SF
Transaction Type:Sale
Mapletree Investments sold a 2.4 million square foot, 10-property industrial portfolio located across Florida, Georgia, and Texas to EQT Real Estate for $241.2 million. The transaction amounted to a price per square foot of $101, with closing expected later this year.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $241,200,000
- Buyer: Henry Steinberg - EQT Real Estate
- Seller: Hiew Yoon Khong - Mapletree Investments
- Total Square Footage: 2,400,000
- Market: Florida, Georgia & Texas
This transaction highlights Henry Steinberg's role as the buyer representing EQT Real Estate, while Hiew Yoon Khong represented the seller, Mapletree Investments. Notably, this sale follows a recent $328 million sale by Mapletree of a 30-property, 1.8 million square foot shallow bay portfolio to Faropoint earlier this month.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$12,864,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$856,932.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,143,411.05
Annual Debt Service$13,720,932.65
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